New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-09-17
DRESBBAOHS, SCHEDULES FILED.
LIABILITIES FIGURED AT $9,442,551

ACTUTL ASSETS NOT MORE THAN $15,O00-THE
NEVADA BANKS LOSS.
EsAN FRANCISCO. Sept 18Thc schedule OF assets and
liabilities of William Dresbach, one Of the two wheat
brokers backed by tho Nevada Bank In tho recent
DEALS gives moro interesting figures which have prev
iously been matter Of conjecture. THE TRIBUNE
originally placed the of the Nevada Bank by its
advances wheat at from six to eight million dol
lars This was secuted as absurd by the bank
officials here but that 1t largely below the real
losses is to DO shown by Drcsbach's schedule To him
alone the bank loaned six and one-half millions. For
six millions Of this amount Charles +. Reed, fOie
County wheat rancher, is guarantee; but IL Is not
thought probable that no stand such heavy loss
this The best judges declare that the bank used
him TO protect itself in OF suits by Dresbachs
creditors Reed owns 10000 acres Of rich bottom
land along the San Joaquin River, and grows moro
wheat than any other In California; but onehaf
OF this Indebtedness would forco him into insolvency
Mrs Paran Stevens, OF New-York is Reeds sister
How no has compromised with the bank or what his
actual relations with 1t are, remains mystery out
that 10 really assumed such vast responsibility Is not
believed by any wheat broker.
Dresbach's total liabilities amount to S0,442,5oo
Tho details arc as follows Money borrowed on wheat
81 ,s55,444; money borrowed from Nevada BANK
s6,553,111 losses contracts, 100000; lossos oh
cargoes en- route $685. 1000; other estimated losses,
100000. OF the amount loaned on wheat the whole
is secured by grain put up at II "a 0uarantee' ou'
81 100000 Is dead los. This may be reduced some
what but not materially.
Among the heavy creditors who are secured py
wheat guarantee Mrs. Abby NJ. CARAT, Searles
& Stone and Starr Co. The list OF brokers In this
city who lose from to two hundred thousand dol
lars is long The heaviest losers are Blum baldwin
& Girvin, c. w. McNear, Eppingcr d Co.. Paulsell %
Wilbur. Schwabachcr Brothers, Grangers business
Association, Elisha Ransom d Co.. and starr q Co
What these brokers will lose is still undet ermincd
Some heavy losses will also fall English brokerage
A big London book account Is that of nealy con-
brough OF London. Ho received $7l2,O0D from the
Nevada Bank loss wheat, but IL Is csu-
mated that this did not cover the depreciation. He
now has 100000 quarters OF Dresbach's wheat on
hand which cost shllings per GENITAL. but which
cannot bo sold for moro than shllings per Genital
Tho list OF assets gives hty-sc'tn vessels now
bound for LIVERPOOL, carIying 504103 CGartcrs or
wheat for which Drcsbach drew on tho consignoa
The largest cOnsigncc is Hcaly Conbrough. Oth'r
oonsignccs are John Tenbosch ~ Co. and Blum Bald
win & Cirvin Tho latter firm advanced thirty shllinrs
per quarter In all Tho ad'a exceed present
valuo OF wheat hence these ass T. are OF no value
Tho total real assets do not figure up more than
$4,000. against liabilities OF over seven millions
and half ~ g., ..,..u .
legal holiday was clever trick to break the farce or
this exposure and weakens It's influence on the wheat
nd 81